Noted economist Frank Knight formalized a distinction among various types of risk associated with uncertainty. He defined three levels of uncertainty. The first is the type associated with a roulette wheel- where it is not possible to know the final outcome, yet one can reliably define the probability of an event’s occurrence. The second type of uncertainty is associated with s ...
Blog
Locate Us
New Frontier Advisors
155 Federal Street
Boston, MA 02110
617.482.1433